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HomePaperThe Value of Environmental Monitoring

The Value of Environmental Monitoring

1 February 2024
Authors: Brent Ambrose (The Pennsylvania State University) and Liu Ee Chia (The Pennsylvania State University)
Presenter: Liu Ee Chia (The Pennsylvania State University)

Governments allocate substantial resources to regulate the environmental consequences of industrial activity. However, little is known about the economic value associated with such oversight. We document a 1.1% increase in US housing values following the establishment of a nearby monitoring station. This positive price effect is attributable to improvements in air quality as we demonstrate a 46.7% reduction in toxic emissions and a 2.6% decrease in the number of industrial facilities in the area subject to additional monitoring. Conservative estimates suggest that the value of new monitoring stations exceeds $52 billion.

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